Location: North Slope Borough, AK | Metro: North Slope Borough, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
U.S. Census Bureau data (2024)
The ZIP code 99759 is a renter-heavy area, with 54.2% of its population renting their homes. This indicates a significant portion of the market that could potentially be interested in Section 8 housing vouchers. The median household income in this ZIP is $104,063, which suggests a relatively affluent community.
The typical market rent in this area is $1,042 per month. This represents approximately 12.3% of the median household income when considering annualized rent. However, for those relying on housing vouchers, the situation is different. The Fair Market Rent (FMR) for the metro area, as set for FY 2026, is $1,630. This means that tenants with vouchers will have a higher budget for rent compared to the average market rate, making them attractive to landlords in 99759.
To put it into perspective, the $1,042 market rent is about 64% of the $1,630 FMR. This gap indicates that there is likely a strong demand for properties that can accommodate Section 8 tenants, given the higher rental subsidy available. Landlords in 99759 should be aware that while the local market rent is lower, they can attract tenants with substantial voucher support, ensuring a stable and reliable source of income.
A landlord in this ZIP code can expect tenants who are financially supported by the government to cover a significant portion of their rent, up to $1,630 per month. These tenants will likely appreciate the quality and amenities offered in a higher-income neighborhood, making them valuable long-term residents. It's important for landlords to understand that although the local market rent is below the FMR, the presence of a large number of renters and the generous voucher amounts make this a viable and attractive market for Section 8 properties.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.